Banco Santander Mexico Sa Instcn De (NYSE:BSMX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Santander Mexico Sa Instcn De (NYSE:BSMX) from a sell rating to a hold rating in a research report report published on Friday morning, Zacks.com reports.

According to Zacks, “Banco Santander, S.A. Institución de Banca Múltiple provides banking services to commercial and private customers. The company’s products and services consist of securities brokerage, financial advice services, as well as other related investment activities and operations aimed at individuals and small and medium enterprises. Banco Santander, S.A. Institución de Banca Múltiple, formerly known as Grupo Financiero Santander, is based in Mexico. “

Several other research firms also recently weighed in on BSMX. Citigroup started coverage on Banco Santander Mexico Sa Instcn De in a research note on Thursday, May 28th. They issued a buy rating for the company. Goldman Sachs Group started coverage on Banco Santander Mexico Sa Instcn De in a research note on Wednesday, June 17th. They issued a buy rating for the company. JPMorgan Chase & Co. downgraded Banco Santander Mexico Sa Instcn De from an overweight rating to a neutral rating and set a $7.00 price objective for the company. in a research note on Thursday, April 2nd. Credit Suisse Group downgraded Banco Santander Mexico Sa Instcn De from an outperform rating to an underperform rating in a research note on Thursday, May 14th. Finally, ValuEngine raised Banco Santander Mexico Sa Instcn De from a sell rating to a hold rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $7.25.

Shares of BSMX stock opened at $3.52 on Friday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 4.29, a price-to-earnings-growth ratio of 6.00 and a beta of 1.49. The stock has a 50 day simple moving average of $3.58 and a 200-day simple moving average of $4.82. Banco Santander Mexico Sa Instcn De has a 12-month low of $2.52 and a 12-month high of $8.01. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.83.

Banco Santander Mexico Sa Instcn De (NYSE:BSMX) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Banco Santander Mexico Sa Instcn De had a return on equity of 15.62% and a net margin of 14.92%. The firm had revenue of $1.12 billion during the quarter. On average, equities analysts forecast that Banco Santander Mexico Sa Instcn De will post 0.48 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in BSMX. Macquarie Group Ltd. boosted its holdings in shares of Banco Santander Mexico Sa Instcn De by 1.5% during the fourth quarter. Macquarie Group Ltd. now owns 11,364,612 shares of the bank’s stock worth $77,052,000 after purchasing an additional 170,232 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Banco Santander Mexico Sa Instcn De by 2.8% during the first quarter. Wells Fargo & Company MN now owns 7,750,537 shares of the bank’s stock worth $25,112,000 after purchasing an additional 214,443 shares during the last quarter. Norges Bank acquired a new stake in shares of Banco Santander Mexico Sa Instcn De during the fourth quarter worth $27,120,000. M&G Investment Management Ltd. boosted its holdings in shares of Banco Santander Mexico Sa Instcn De by 26.0% during the first quarter. M&G Investment Management Ltd. now owns 2,486,616 shares of the bank’s stock worth $7,460,000 after purchasing an additional 513,688 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Banco Santander Mexico Sa Instcn De during the first quarter worth $5,800,000. Hedge funds and other institutional investors own 10.63% of the company’s stock.

About Banco Santander Mexico Sa Instcn De

Banco Santander (México), SA, Institución de Banca Múltiple, Grupo Financiero Santander México provides various banking products and services in Mexico. The company operates through Retail Banking and Global Corporate Banking segments. It offers various deposit products, such as current accounts, savings accounts, and time deposits, as well as certificates of interbank deposits; and payroll loans, personal loans, credit cards, mortgages, and insurance brokerage services.

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